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UAE, Montenegro Ink DTA, Investment Treaty

by Mary Swire, Tax-news.com, Hong Kong

04 April 2012


The United Arab Emirates (UAE) has signed a double taxation agreement (DTA) and an investment promotion and protection treaty with the Republic of Montenegro.

The DTA was signed in Abu Dhabi by HE Younis Haji Khouri, Undersecretary of the UAE's Ministry of Finance, and Montenegro’s Deputy Minister of Finance Biljana Scekic. The investment treaty was also inked by HE Al Khouri and, for Montenegro, Goran Scepanovic, Deputy Minister in the Ministry of Economy.

According to the UAE's Finance Ministry, the agreements aim at protecting and promoting mutual operations, and at providing tax and financial benefits for public and private sector investments.

HE Al Khouri added that the UAE intends to strengthen and promote its economic, investment and trade relations with Montenegro. He explained that Montenegro is an important regional centre for the flow of investments towards the UAE's partners in the European Union, while foreign investors are able to establish companies with relative ease there.

Turning to the DTA, HE Al Khouri said that a major advantage of such conventions is the exemption of government institutions from dividend tax, corporate tax, interest tax, capital gains tax.

TAGS: United Arab Emirates | tax | investment | double tax agreement (DTA) | interest | investment treaty | Montenegro | agreements | trade

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